Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider Sells $69,969.00 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 2,490 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $28.10, for a total value of $69,969.00. Following the completion of the sale, the insider now directly owns 55,239 shares of the company’s stock, valued at $1,552,215.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

John Militello also recently made the following trade(s):

• On Thursday, February 29th, John Militello sold 10,000 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $29.84, for a total value of $298,400.00.
• On Monday, January 22nd, John Militello sold 638 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $27.20, for a total value of $17,353.60.

Rocket Pharmaceuticals Price Performance

Rocket Pharmaceuticals stock opened at $27.25 on Thursday. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $28.40 and a two-hundred day moving average price of $24.82. Rocket Pharmaceuticals, Inc. has a 52-week low of $14.89 and a 52-week high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.14. During the same period last year, the business earned ($0.92) EPS. On average, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RCKT has been the subject of several research reports. UBS Group reduced their price objective on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Needham & Company LLC restated a “buy” rating and issued a $53.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 13th. JPMorgan Chase & Co. cut their target price on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. StockNews.com upgraded Rocket Pharmaceuticals to a “sell” rating in a research note on Friday, February 9th. Finally, Lifesci Capital restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Institutional Trading of Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Amalgamated Bank grew its holdings in shares of Rocket Pharmaceuticals by 5.4% during the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock worth $259,000 after purchasing an additional 440 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Rocket Pharmaceuticals by 2.5% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 19,379 shares of the biotechnology company’s stock worth $581,000 after purchasing an additional 475 shares during the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of Rocket Pharmaceuticals by 24.0% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,205 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 621 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Rocket Pharmaceuticals by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 633 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Rocket Pharmaceuticals by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock worth $538,000 after purchasing an additional 661 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.